The first and most daunting challenge to freedom is the financial strain when a legal crisis strikes and it is considered a crisis. As bail is often posted in thousands or even millions of dollars, it simply becomes impossible to raise the money required to cover full cash bail out of pocket, particularly when the family is involved.
The first thing to do is find or search for companies that offers flexible bail payments. Through the services of a licensed bail bondsman, you can have a release on a fraction of the price, which the law typically sets at no more than ten percent of the entire bail money. To illustrate, when a judge imposes the bail of ten thousand dollars, the premium cost will be a thousand dollars. It is a non-refundable fee since it takes care of the risk taken by the agency as well as the service of posting the entire amount with the court. Most of the reputable agencies accept some forms of payment to hasten the releasing process such as cash or debit cards. Though credit cards are convenient in times of need, you must be aware of interest rates on your credit card.
Collateral and Co-Signer
In the case of highly valued bonds, an agency might demand a collateral to guarantee that the rest ninety percent of the bail is provided. The types of collateral that are commonly used are property deeds, vehicle titles or high value jewelry. The agency is in possession of this collateral and is refunded when the case of the defendant is completely closed and the bond is cleared by the court. Written terms should be received spelling out the terms under which these assets will be released. Together with collateral, the co-signer is very vital in this process. A co-signer is an indemnitor who signs a contract in an effort to ensure that the defendant attends all his or her court hearings. This individual usually requires a regular earnings and a residential address to be eligiblated. In a case where the defendant does not turn out, the co-signer has to cover the entire amount of the bail bond and hence it is a serious obligation and there must be trust in all the parties involved.
Funding Plans and Discount Availability
Understanding that an increase of ten percent can be an uphill task to most families, Balboa Bail Bonds, a contemporary company, provides customized payment schemes. These flexible funding plans will enable you to pay within a few months to suit your own budget. The plans provided by many agencies have a low starting down payment of as little as twenty percent of the premium. In most instances, these schemes do not involve credit check, with a stable job and a local co-signer, becoming of greater significance than a credit rating. You can also have great discounts. There are numerous licensed providers that will provide lower prices to certain categories of individuals, such as active-duty military, veterans, union members, seniors, and those that have already hired a private attorney. These discounts are able to save the initial cash requirement by a considerable amount.
Assuring A Seamless Future
Finally, the legal system is a stressful process to navigate, yet the financial factor should not be a challenge of impossible. Using a licensed and twenty four hour agency, you are able to get professional advice and good conditions that can save your money and still make sure your loved one comes home. Be it a minor misdemeanor or a serious felony case, knowing about such forms of payment will transform an unaffordable financial burden into a reasonable reality. One is always safe to deal with agents who are clear about the process and furnish all contracts in writing to ensure no hidden costs are incurred and no misunderstanding happens.
